MGMT 498 Exam 1: CH. 7

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Architectural Innovations:

An innovation in which known components are reconfigured in a new way

Radical Innovations

An innovation that draws on novelty and is derived from an entirely different knowledge base

Disruptive Innovations

An innovation that leverages new components

Incremental Innovations:

An innovation that squarely builds on an established knowledge base and steadily improves an existing product/service

First Movers Advantage:

Competitive benefits that accrue to the successful innovator

Industry Life Cycle: 5 Stages:

Introduction (Launching successful innovation/industry) > Growth (Demand increases rapidly, many firms enter) > Shakeout (Rate of growth declines, firms compete directly) > Maturity (Few large firms, increases competition, maximum process innovation) > Decline (Market size contracts, demand falls)

Respond to disruptive innovations:

continue to innovate, protect against disruptive innovations by protecting low end of market, disrupt own industry before someone else does.


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